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Arizona auctions: Scottsdale sales net an estimated $157 million

WITH VIDEO -- Five days of sales staged by auto auction companies in the Phoenix area pulled in a combined estimated total of $157 million, according to Hagerty Insurance. The five companies staging auctions--Barrett-Jackson, Gooding & Co., RM Auctions, Russo and Steele and Silver Auctions--offered 2,887 lots for sale and sold 2,325 of them, an 81 percent sell-through rate. A 2006 Ferrari FXX Evoluzione at the Gooding auction was listed as the top single sale with a price of $2.09 million, Hagerty said.

Honda back in F1 as engine supplier to McLaren from 2015

We reported that Honda were looking likely to be heading back in to F1 as engine supplier to McLaren nearly two years ago, and this morning Honda has confirmed they have formed a joint project with McLaren to supply engines and energy recovery systems to McLaren from 2015 in a joint project with the McLaren team becoming McLaren Honda. The new F1 partnership revives a very successful period for McLaren when it last used Honda engines and Prost and Senna dominated F1 with Honda powered McLarens, and fits in nicely with Honda’s return to making supercars with the new Honda NSX. Formula One engines will drop to a 1.6 litre V6 in 2015 – with a turbo – and it will be very easy for parallels to be drawn with the V6 hybrid plant Honda are using on the new NSX, which is going to do its credibility no harm whatsoever.

Kia Magentis (2011): the first styling sketch

The new 2011 Kia Magentis design sketch By Tim Pollard First Official Pictures 22 February 2010 11:51 This is our first look at the new 2011 Kia Magentis – a solitary design sketch showing what next year's new family car will look like.The new Magentis will be shown for the first time at the New York auto show on 2 April 2010 and Kia says it is longer, lower and wider than its predecessor. 'The new Magentis features a significantly longer wheelbase and will offer considerably more space for both people and luggage,' says the company.That, however, is the sum of the detail confirmed by Kia on its new family car.When can I buy the new Kia Magentis?Not many people will in the UK – they only sold 333 here last year. But should you want to, the new Magentis goes on sale in spring 2011 in Europe, six months after its US launch.